TMF Trustee Ltd & Ors v Fire Navigation Inc & Ors Re 'Megacore Honami' [2018] EWHC 2790 (Comm) (16 October 2018)

TMF Trustee Ltd & Ors v Fire Navigation Inc & Ors Re 'Megacore Honami' [2018] EWHC 2790 (Comm) (16 October 2018)

The balance of risk and justice overwhelmingly favours granting interim possession to the claimants; allegations of unclean hands and lack of full and frank disclosure are not made out; claimants are entitled to maintain possession pending final determination.

Citation
[2018] EWHC 2790 (Comm)
Parties
Claimant: TMF Trustee Limited; Claimant: TMF Global Services (UK) Limited; Claimant: Burlington Loan Management DAC; Claimant: Bank of America, N. A.; Defendant: Fire Navigation Inc; Defendant: Hurricane Navigation Inc; Defendant: OD Investment Ltd; Defendant: Oxygen Maritime Management Inc; Defendant: Igor Viatcheslavovich Kozin
Jurisdiction
England and Wales
Judgment Date
16 October 2018
Procedural Posture
Commercial Court Interim Application / Inter Partes Hearing Following Ex Parte Interim Relief
Outcome
Interim possession order confirmed; defendants' application to discharge set aside; prior holding order discharged.
Legal Topics
Mortgage Enforcement, Interim Relief, Full and Frank Disclosure, Clean Hands Doctrine, Judicial Sale of Vessel
Commercial Law Admiralty Law Banking and Finance Mortgage Enforcement Interim Relief Full and Frank Disclosure Clean Hands Doctrine Judicial Sale of Vessel

Case Brief

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Parties

TMF Trustee Limited

Claimant

TMF Global Services (UK) Limited

Claimant

Burlington Loan Management DAC

Claimant

Bank of America, N. A.

Claimant

Fire Navigation Inc

Defendant

Hurricane Navigation Inc

Defendant

OD Investment Ltd

Defendant

Oxygen Maritime Management Inc

Defendant

Igor Viatcheslavovich Kozin

Defendant

Procedural Posture

Commercial Court Interim Application / Inter Partes Hearing Following Ex Parte Interim Relief

Legal Issues

  1. 1 Whether claimants are entitled to interim possession of Megacore Honami pending final determination
  2. 2 Whether claimants acted with unclean hands or failed to make full and frank disclosure on ex parte application
  3. 3 Whether mandatory interim relief is justified given the balance of risk and justice

Ratio Decidendi

The balance of risk and justice overwhelmingly favours granting interim possession to the claimants; allegations of unclean hands and lack of full and frank disclosure are not made out; claimants are entitled to maintain possession pending final determination.

Court Disposition

Interim possession order confirmed; defendants' application to discharge set aside; prior holding order discharged.

Orders

  • Order of 25 September discharged.
  • First defendant's application to set aside/discharge 22 September order dismissed.